The White House’s push for tax cuts made crucial progress on Tuesday as Senate Republicans rallied behind a budget proposal the party needs to pass to keep alive its hopes of enacting sharp reductions in tax rates later this year.
President Donald Trump promoted his tax reform plan at The Heritage Foundation’s President’s Club, and also touted American values, the Constitution, and “God-given rights.”
The Trump administration is pushing back against criticism from Democrats that its tax-reform plan will be a boon for the rich, casting the GOP bid to slash corporate taxes as a win for workers.
Gary Cohn, the top economic advisor to the White House, said Monday that tax reform has to get done this year.
President Trump on Monday seemed to be pushing back a year-end deadline for the GOP to get tax reform done, saying there’s still “a long way to go” and that it took President Ronald Reagan “years” to accomplish his overhaul of the tax code.
The White House is making a promise: The average American family would get a $4,000 raise under President Donald Trump’s tax plan.
White House National Economic Council Director Gary Cohn said Monday that President Trump will be “flexible” on the details of the tax reform bill.
By slashing corporate tax rates, the Trump administration said Monday, the average U.S. household will get an estimated $4,000 more a year.
Sen. Ted Cruz expects tax reform to get done “late this year or early next year” — not sticking to the hard 2017 deadline set out by top Republicans.
Senate Majority Leader Mitch McConnell (R-Ky.) is making a bid for the support of Sen. Joe Manchin (W.Va.), a prominent centrist Democrat, on tax reform.